Your Right to Know

WASHINGTON — President Barack Obama paid an effective federal tax rate of18.4 percent in 2012,
according to his tax returns released by the White House yesterday.

Obama and his wife, Michelle, had adjusted gross income of $608,611 last year, down from
$789,674 in 2011, and paid $112,214 in total taxes, compared with $162,074 in 2011.

Their total income came in at $662,076 — down almost 22 percent from $844,585 the previous
year.

As president, Obama is entitled to a $400,000 annual salary. He reported salary income in 2011
and 2012 of $394,800, however, after deducting pre-tax amounts he paid for his health insurance,
according to the White House.

The Obamas’ outside business income fell sharply as the president’s book sales declined. In
2012, the couple had business income of $258,772, down from $441,369 in 2011.

Book sales have declined dramatically since the early days of his presidency. In 2009, his
profits from book sales came in at $5.6 million.

In 2013, Obama plans to give back 5 percent of his pay in a gesture of solidarity with
government workers who must take unpaid leave as a result of spending cuts that went into effect
last month.

Obama has pressed for wealthy people like himself to pay a greater share in taxes.

The Obamas reported giving $150,034 to charities, representing roughly 24.6 percent of their
adjusted gross income. The largest gift was $103,871 to the Fisher House Foundation, an
organization that helps military families.